RDB & RTL system - page 26
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If you have less than $1,000 in your account, we recommend that you trade micro lots only.
Just to add visual note, how important risk management is...
It took just one month to lose 19%, but we needed two months to make it back. Many will never get it...
Trading no more than 2% per trade is crucial survival in the long run.
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hi bershk,
This is from my system description:2. I'd like to generate at least +300 pips/month. If you have less than $1,000 in your account, we recommend that you trade micro lots only. If your account is > $10,000 use mini lots and if it is > $50,000 you can start trading standard lots. Always 'try' to use %2 max risk of your account/per trade (based on 250pips stop).
1 mini per 1000 depending on the stop size can be more than 10% risk. I don't recommend trading more than 2% per position based on 200-250pips stop. This i more like 1-3 micro lots per $1,000 of your account.
Don't rush with subscription!!!
To understand what I'm doing it would be wise to read most of my posts. Google: raczekfx.
I was posting on ForexFactory under that nick.
This is not the game and many people dont' understand the risks involved in trading currencies, so don't rush. Before joining anywhere, check how the system performed, see if your account could handle drawdowns that occurred in the past and then decide. I'll be on RAS for the next few months (perhaps till the end of 2010) before deciding if I want to continue with the psychological hassle, knowing people are following my live trades. I'm busy enough managing my own...
Anyways, just take your time..
many pips.
rso let me reiterate - no more than 2% risk of account/per trade (based on 200 - 250 pips SL) regardless of number of concurrently open trades, correct?
Thank you,
Victor
so let me reiterate - no more than 2% risk of account/per trade (based on 200 - 250 pips SL) regardless of number of concurrently open trades, correct?
Thank you,
VictorYes.
I could have several positions open at the same time as mentioned in the system description. And also... (so we are on the same page), I'm controlling my risk based on my account size and traders control theirs based on the information provided here and their account size.
You can use this post to help you out with position sizing:
https://www.mql5.com/en/forum/general
For simplicity and under mutual agreement I'm only trading 0.5 and 1 standard lots (for RAS purpose) for the time being.
From time to time I update members with the information about BE status and maximum stops.
Current BE = 30 pips
Max stops for currencies: 120-150 pips.
Stops are valid for currencies only (not for dow and crude futures or Gold)
hi
hi Racscave
Is any way to join to your google group, at the moment I do not want to join to RAS- it's too early to me, but I wacht you on FF , you really great trader . I got my own strategy [ BRN, dywergence, S/R PA] I just testing on mini account. I will be very happy to know what do You thing about that..
regards
daxlook
hi Racscave
Is any way to join to your google group, at the moment I do not want to join to RAS- it's too early to me, but I wacht you on FF , you really great trader . I got my own strategy [ BRN, dywergence, S/R PA] I just testing on mini account. I will be very happy to know what do You thing about that..
regards
daxlookThanks Daxlook for the complement...however, I'm not a great trader.
Having said that, I do ok and try to learn from my mistakes.
Unfortunately google group is for RAS subscribers only and its main purpose is to keep track of all my trades. You can think of it as a instant notification of our trades.
Email is generated to the google group as soon as the trade is initiated or adjusted.
Some members have them forwarded to their mobile devises, some use it as a confirmation in case they have problems with RAS. That way they can act without having to check statistics.
Other purpose of the group is to be aware of my other trades (futures) which are not supported by RAS. e.g. dow futures.
Cheers.
p.s.
If you have your own strategy that works, that's great. Practice and demo it and simply follow your dreams...
Best.
Yes.
I could have several positions open at the same time as mentioned in the system description. And also... (so we are on the same page), I'm controlling my risk based on my account size and traders control theirs based on the information provided here and their account size.
Thank you Rac. I need to clean up my account from one stinking trade and will subscribe for you immediately.
Thank you Rac. I need to clean up my account from one stinking trade and will subscribe for you immediately.
Just make sure, you're ok with the drawdowns, my trading style and understand there is absolutely no guarantees about the profits.
If you haven't yet, please read my posts on forexfactory (nick: raczekfx) to see if this method fits you. I had a members in the past, who subscribed to this system at its peak, but unfortunately we experienced a month of bad drawdowns (may 2010) and they weren't happy (Some of them for sure trade much better than I
).
We could easily double our account size by the end of the year but we could also lose good chunk of it. Trading is a business of probabilities..
I'm being honest here with you and make no promises. The fact is that only 2-3% of traders make money consistently, about 5-6% always breaks even and more than 90% will lose it all, no matter how hard they'll try or how smart they are... (hint: Psychology)
Cheers.
r
Just make sure, you're ok with the drawdowns, my trading style and understand there is absolutely no guarantees about the profits.
If you haven't yet, please read my posts on forexfactory (nick: raczekfx) to see if this method fits you. I had a members in the past, who subscribed to this system at its peak, but unfortunately we experienced a month of bad drawdowns (may 2010) and they weren't happy (Some of them for sure trade much better than I
).
We could easily double our account size by the end of the year but we could also lose good chunk of it. Trading is a business of probabilities..
I'm being honest here with you and make no promises. The fact is that only 2-3% of traders make money consistently, about 5-6% always breaks even and more than 90% will lose it all, no matter how hard they'll try or how smart they are... (hint: Psychology)
Cheers.
rHi Rac,
Thank you for warnings - I regard them all. I ama not exactly a novice in trading and I think I calculated all risks known to me. I also think I am prepared to drawdowns unlless you have 10 open trades, all going south for 1000 pips. I studied your style and history, but only real trades with can show a real picture: differences in brockers, datafeeds, commisions, spreads, swaps, etc.
Yesterday I've subscribed for your service and just from today's trades I learned that am loosing 4-6 pips on your every trade and I think I know why.
PLease include me in your google groop. My nick on RAS is the same - bershk.
Thank you,
bershk
Hi Rac,
Congrats for your signal and your good results.
I am looking to buy it.
Cheers
Hi Rac,
Congrats for your signal and your good results.
I am looking to buy it.
CheersThanks EF
Results can only be objectively judged after at least 1 full year. I've got 4 months to go.
Take your time and don't rush.
It's a two way street...
Besides this system is not even on a list of the best 20, according to RAS' statistics. I'm sure there are better ones...